Company (OPC) is a business element where there is just a single proprietor with restricted liabilities who can act both as an investor just as the executive. One Person Company (OPC) Registration in India presented through the Companies Act, 2013, to help business people who are all alone equipped to begin an endeavor by permitting them to make a solitary individual monetary element. The obligation of the proprietor is constrained to the put capital in this structure.
If an OPC surpasses a turnover of over Rs. 2 crores or has a settled up capital above Rs. 50 lakhs, it must be transformed into a private or open constrained organization inside a half year.
One Company Registration (OPC) Process
- Least settled up capital will be Rs. 1,00,000.
- It will have just a single individual as part.
- A memorandum of the Association of such an organization will necessarily recommend the name of the individual, who, in case of death or handicap of the endorser, will accept his position.
- The OPC individual will reserve the privilege to change the candidate whenever with a due hint to the Registrar.
- OPC can shaped as an organization restricted by share capital or constrained by guarantee or unlimited company.
- The words ‘One Person Company’ should be referenced in sections beneath the name of such organization, any place its name printed.
- One individual can shape just up to one (1) OPC.
- An OPC can be framed distinctly by an Indian Resident and resident.
- Director Identification Number(DIN) for all the Directors is required.
- DSC (Digital Signature Certificate) for all the Directors is required.
Document Required for OPC
- Passport Size photo
- Director Address Proof(Electricity bill/Mobile Bill)
- Director Pan Card
- Director Identity Proof(Adhar Card/DL/Voter Card)
- Registered Office Address Proof
- No objection Certificate Letter from the owner
Advantages of OPC
Autonomous :
The One Person Company recognized as a different legitimate element. According to the law, an organization is an individual with a typical seal, and ceaseless progression. It gets the power to practice all the elements of a fused individual.
Restricted Liability:
Unlike open restricted organization and private constrained organization, the idea of the constrained obligation of One Person Company in India suggests that the risk of the part will be up to the degree of his offer in the organization. In an OPC, one individual holds the whole offer and has total authority over the business’s activity. It is very well may be explained that the individual’s obligation will be to the degree he has put resources into the business.
Separate Property:
An OPC will have different properties as it picks up its character and capacities as a different legitimate substance. The OPC will turn into the proprietor of its advantages, and the individuals won’t have any insurable rights in the benefits of the organization.
Transferability of Shares:
OPC has just a single investor. The issue of moving a bit of the offer doesn’t emerge at all in such a case that it done, the organization will stop to be a “one individual” organization. Likewise, moving all the offers is not practicable as it’ll change the whole structure of the organization as the proprietor of the organization is evolving. The issue has not yet managed, and understanding of the law may give us the clarification that in an OPC, the move of the offer not permitted.
Expense Flexibility and Savings:
OPC make a substantial agreement with its investor or chiefs. It implies as an executive, you can get compensation; as a lessor, you can get a lease. As a leaser, you can propel cash to your organization and acquire premium. Executives’ compensation, lease, and intrigue are a deductible cost that decreases the benefit of the company and, at last, cuts down available pay of your business.
Unlimited oversight of the company with the Single Owner:
OPC is controlled and overseen by the Single Owner. It prompts snappy dynamics and execution. The feeling of having a place persuades to develop the business further.
Legitimate Status and Social Recognition for Your Business:
One individual organization is the most mainstream business structure on the planet. Enormous associations want to manage private constrained organizations rather than ownership firms. Private Limited business structure appreciates corporate status society, which causes the business person to draw in a quality workforce and assists withholding them by giving corporate assignments, similar to directorships.
